Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “company”) (NASDAQ:CREX, CREXW))))), a leading provider of digital signage solutions, announced today that effective at 12:01 am on Monday, March 27, 2023, the Company will effect a one-for-three reverse stock split of its outstanding common stock. The Company’s common stock will continue to trade under the symbol “CREX” and is expected to open for trading on the Nasdaq Capital Market on Monday, March 27, 2023 on a post-split basis.
The reverse stock split is primarily intended to bring the Company into compliance with the minimum bid price requirement to maintain the listing of the Company’s common stock on the Nasdaq Capital Market. Upon the effectiveness of the reverse stock split, every three shares of issued and outstanding common stock at the close of business on Friday, March 24, 2023 automatically will be combined into one issued and outstanding share of common stock, with no change in par value per share.
In connection with the reverse stock split, the total number of shares of common stock authorized for issuance will be reduced from 200,000,000 shares to 66,666,666 in proportion to the reverse stock split. No fractional shares will be issued as a result of the reverse stock split. Any fractional share of a shareholder resulting from the reverse stock split will be rounded up to the nearest whole number of shares.
